CULLERTON. (BUGIELSKI-FEIGENHOLTZ-DEUCHLER) 815 ILCS 205/4.1a from Ch. 17, par. 6406 Amends the Interest Act. Adds a caption to a Section concerning charges that are deemed not to be consideration for a loan. SENATE AMENDMENT NO. 1. Deletes reference to: 815 ILCS 205/4.1a Adds reference to: 815 ILCS 205/4 from Ch. 17, par. 6404 Replaces the title and everything after the enacting clause. Provides that it is lawful to impose upon a borrower a cancellation fee not exceeding $500 if the borrower cancels a home equity line of credit. FISCAL NOTE (Dept. of Financial Inst.) SB 670 would have no fiscal impact on this Dept. STATE MANDATES FISCAL NOTE (DCCA) Fails to create a State mandate. HOME RULE NOTE SB 670 does not preempt home rule authority. HOUSING AFFORDABILITY NOTE This bill will have no direct impact on the cost of construc- ting, purchasing, owning or selling a single family residence. HOUSE AMENDMENT NO. 1. Provides that a cancellation fee not exceeding $500 may be charged unless otherwise prohibited by law. 97-02-06 S FIRST READING 97-02-06 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE FIN INST 97-02-28 S POSTPONED 97-03-06 S AMENDMENT NO. 01-FINANC. INST. S 97-03-06 S ADOPTED 97-03-06 S DO PASS AS AMENDED 008-000-000 SFIC 97-03-06 S PLACED ON CALENDAR ORDER OF 2ND READING 97-03-11 97-03-12 S SECOND READING 97-03-12 S PLACED ON CALENDAR ORDER OF 3RD READING 97-03-13 97-03-13 S THIRD READING - PASSED 058-000-000 97-03-13 H ARRIVE IN HOUSE 97-03-13 H PLACED CALENDAR ORDER OF FIRST READING 97-03-14 H HOUSE SPONSOR FEIGENHOLTZ 97-03-18 H FIRST READING 97-03-18 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-03-21 H ASSIGNED TO COMMITTEE FIN INSTIT 97-04-29 H ALTERNATE PRIMARY SPONSOR CHANGED TO BUGIELSKI 97-04-29 H ADDED AS A JOINT SPONSOR FEIGENHOLTZ 97-05-07 H DO PASS/SHORT DEBATE 023-001-000 HFIN 97-05-07 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-05-07 H FISCAL NOTE REQUESTED DEUCHLER 97-05-07 H HOUSING AFORDABLTY IMPCT NOTE REQUESTED DEUCHLER 97-05-07 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-05-12 H FISCAL NOTE FILED 97-05-12 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-05-13 H HOUSING AFORDABLTY IMPCT NOTE REQUESTED WITHDRAWN/DEUCHLER 97-05-13 H SECOND READING-SHORT DEBATE 97-05-13 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-05-13 H RECALLED TO SECOND READING-SHORT DEBATE 97-05-13 H AMENDMENT NO. 01-BUGIELSKI 97-05-13 H AMENDMENT REFERRED TO HRUL 97-05-13 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-05-14 H STATE MANDATES FISCAL NOTE FILED 97-05-14 H HOME RULE NOTE FILED 97-05-14 H HOUSING AFORDABILITY IMPCT NOTE FILED 97-05-14 H AMENDMENT NO. 01-BUGIELSKI 97-05-14 H BE ADOPTED HRUL 97-05-14 H AMENDMENT NO. 01-BUGIELSKI 97-05-14 H ADOPTED 97-05-14 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-05-15 H THIRD READING/SHORT DEBATE/PASSED 117-000-001 97-05-15 H ADDED AS A JOINT SPONSOR DEUCHLER 97-05-16 S SECRETARYS DESK - CONCURRENCE 01 97-05-16 S FILED WITH SECRETARY 97-05-16 S MOTION NON-CONCUR - HOUSE AMENDMENT NO 01-CULLERTON 97-05-19 S SEN NON-CONCURS IN HSE AMENDMENTS (NO.) 01 97-05-19 H ARRIVE IN HOUSE 97-05-19 H PLACED CALENDAR ORDER NON-CONCURRENCE 01 97-05-22 H MOTION REFUSE RECEDE - HSE AMEND NO 01/BUGIELSKI 97-05-22 H HSE REFUSES TO RECEDE FROM AMENDMENT NO 01 97-05-22 H HSE REQUESTS CONFERENCE COMMITTEE 1ST 97-05-22 H HSE CONFERENCE COMMITTEE APPOINTED 1ST/BUGIELSKI, 97-05-22 H FEIGENHOLTZ, 97-05-22 H HANNIG, 97-05-22 H CHURCHILL AND 97-05-22 H DEUCHLER 97-05-23 S SEN ACCEDE REQUEST CONFERENCE COMMITTEE 1ST 97-05-23 S SEN CONFERENCE COMMITTEE APPOINTED 1ST/O'MALLEY, 97-05-23 S WALSH,T, GEO-KARIS 97-05-23 S REA, CULLERTON 97-05-30 S FILED WITH SECRETARY 97-05-30 S CONFERENCE COMMITTEE REPORT 1ST/CULLERTON 97-05-30 S CONFERENCE COMMITTEE REPORT REFERRED TO SRUL 97-05-30 H HSE CONFERENCE COMMITTEE REPORT SUBMITED 1ST/BUGIELSKI 97-05-30 H CONFERENCE COMMITTEE REPORT REFERRED TO 1ST/HRUL 97-05-30 H BE APPROVED FOR CONSIDERATION 1ST/HRUL 97-05-30 S CONFERENCE COMMITTEE REPORT 1ST/CULLERTON 97-05-30 S BE APPROVED FOR CONSIDERATION SRUL 97-05-30 H HOUSE REFUSES TO ADOPT CONF COM RPT 1ST 97-05-30 H HSE REQUESTS CONFERENCE COMMITTEE 2ND 97-05-30 H HSE CONFERENCE COMMITTEE APPOINTED 2ND/BUGIELSKI, 97-05-30 H FEIGENHOLTZ, 97-05-30 H HANNIG, 97-05-30 H CHURCHILL AND 97-05-30 H DEUCHLER 97-05-30 S SEN CONFERENCE COMMITTEE REPORT SUBMITED 1ST/CULLERTON 97-05-30 S SENATE CONFERENCE REPORT LOST 1ST/004-047-001 97-05-31 S SEN ACCEDE REQUEST CONFERENCE COMMITTEE 2ND 97-05-31 S SEN CONFERENCE COMMITTEE APPOINTED 2ND/O'MALLEY, 97-05-31 S WALSH,T, GEO-KARIS 97-05-31 S REA, CULLERTON 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary